March 10, 2020, 9:59 a.m. EDT

Dick's Surges on Quarterly Figures, Gun Removal

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    Dick's Sporting Goods Inc. (DKS)

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Mar 10, 2020 (Baystreet.ca via COMTEX) -- Dick's Sporting Goods /zigman2/quotes/200566298/composite DKS +4.05% recovered from the rubble of Monday's stock meltdown, on the announcement of quarterly financial figures.

Earnings per share came in at $1.32, adjusted, vs. $1.22 expected. Revenue proved to be $2.61 billion vs. the expected $2.57 billion. Same-store sales zoomed 5.3% as opposed to expected growth of 3%.

Looking to the full year, Dick's is now calling for earnings per share to range from $3.60 to $4. Analysts had been calling for an average of $3.85 a share.

It expects same-store sales to range from flat to 2%. It said the lower end of its full-year outlook "includes some caution related to supply chain disruption potentially impacting its results beginning in the second quarter," because of the coronavirus.

Net income during the quarter ended Feb. 1 fell to $69.8 million, or 81 cents per share, compared with $102.6 million, or $1.07 a share, a year earlier.

The chain also said Tuesday it will remove guns from another 440 stores this year, building on its efforts after the deadly school shooting in Parkland, Florida, in 2018.

It made the announcement as it reported holiday-quarter earnings and sales that surpassed analysts' estimates and showed that more people flocked to its stores for athletic footwear and apparel.

The company has benefited from being one of the last bricks-and-mortar businesses left operating in its segment, with rivals Sports Authority and Sport Chalet having gone bankrupt.

Shares gained $2.85, or 3.7%, to $37.33

COMTEX_363200835/2559/2020-03-10T09:58:38

/zigman2/quotes/200566298/composite
US : U.S.: NYSE
$ 32.09
+1.25 +4.05%
Volume: 2.64M
May 22, 2020 4:00p
P/E Ratio
9.59
Dividend Yield
0.00%
Market Cap
$2.79 billion
Rev. per Employee
$186,650
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